ETH –

Wave Analysis

As we forecasted previously, Ethereum traded intensely to the lower side and even went below the hourly support level 507.54. As long as the price is contained below this level, we expect a possible momentum to the lower side. The anticipated bearish price rally is the continuation of the impulsive wave (v) and should first break below 450.23 before a tremendous move towards 365.00 is seen. At the moment, buy positions looks more risky and only sell positions can be recommended.